By Leslie D. Venzon
MANILA, July 28 (PNA) — Ayala Land Premier (ALP), the luxury real estate unit of Ayala Land Inc., is reporting robust sales of its newly-launched Php11.5-billion luxury residences in Bonifacio Global City (BGC), as a strong economic growth is driving demand in the residential real estate sector.
In a press briefing, ALP project development manager Paolo Ilusorio said some 48 units of the West Gallery Place valued at Php1.6 billion have been sold in just the past month.
Ilusorio said new 49-storey luxury residences follow the success of its forerunner, East Gallery Place, which has sold Php9.3 billion worth or 84 percent of its inventory to date. The latter project was launched in late 2013.
He said West Gallery Place, which has units priced at Php13 million to Php234 million, is expected to perform just as well.
The tower features 420 units ranging in size from 52 square meters for a one-bedroom Classic to a spacious 701 sqm for a four-level Villa – a townhouse-like unit with a pool and a private elevator.
The Skyrise 49, a special unit on the topmost floor, is a super spacious 832-sqm unit with four-meter high ceilings in the living and dining areas, a pool and an expansive outdoor deck.
Ilusorio said residences will begin turnover by third quarter of 2021 to first quarter of 2022.
“Considering that One Serendra and The Suites are sold out, and East Gallery Place having few units left, the launch of West Gallery Place allows ALP to continue being the dominant high-end offering in BGC,” said Leya Moya, ALP Project Development Group Head.
ALP Managing Director Jose Juan Jugo said the country’s robust economy and expanding upper classes are driving the growth of the residential real estate market.
“Despite value appreciation of our properties, the market is strong so it is a very good sign for our country,” he said. (PNA)